Answer:
$2,180,000
Explanation:
For computing the production cost first we have to find out the number of units produced which is shown below:
= Sales units + ending inventory units - beginning inventory units
= 70,000 units + 30,000 units - 40,000 units
= 60,000 units
Now the total budgeted production cost is
= (Direct material per unit + direct labor per unit + variable overhead per unit) × number of units produced + fixed factory overhead cost
= ($10 + $20 + $5) × 60,000 units + $80,000
= $2,180,000
We simply applied the above formula
Answer:
November 30
Explanation:
it's hard for me to explain it but basically sales are made whether the company receives the money or not
Explanation:
The journal entry for issuance of the stock for acquiring the land is shown below:
Land A/c Dr $82,600 (5,900 shares × $14 per share)
To Common stock A/c $64900 (5,900 shares × $11 per share)
To Additional paid-in capital in excess of par - Common stock A/c $17,700 (5,900 shares × $3 per share)
(Being the issuance of the stock for acquiring the land is recorded)
Answer:
$863,689.50
Explanation:
The computation of the present value of the terminal value is shown below:
The terminal value at the end of the third year is
= Third year Cash flows × (1 + growth rate) ÷ (required rate of return - growth rate)
= $64,000 × (1 + 2%) ÷ (8% - 2%)
= $1,088,000
Now its present value is
= terminal value at the end of the third year ÷ (1 + rate of interest)^number of years
= $1,088,000 ÷ (1 + 8%)^3
= $863,689.50
This is the answer but the same is not provided in the given options
Given:
Checkable deposit = $100 million
actual reserves = $12 million
required reserve ratio = 10%
100 million * 10% = 10 million
10 million - 12 million = 2 million excess reserves
D.) $2 million is the bank's excess reserves
